The USDA’s December Farm Income Report showed only a slight change from September’s numbers, but those revised estimates still show agriculture taking a big financial hit this year. However, it’s still possible to lock in some profits for your grain despite some tough economic conditions. Tony Jesina, senior vice president of insurance with Farm Credit Services of America, said understanding your cost of production is key.
Jesina said it’s also important to not get overwhelmed by the number of financial options in the marketplace.
Jesina said farmers should stay flexible with their financial plans and consider adding on to or even changing certain aspects of their plans.
A financial plan can’t just be passive, though. Jesina said farmers need to be actively marketing their grain as well.
For more information, visit fcsamerica.com.
